The Self Employed Income Support Scheme (SEISS) allows you to claim a taxable grant of 80% of your average monthly trading profits capped at £7,500 covering 3 months.
Unlike the Coronavirus Job Retention Scheme(CJRS), if you receive the grant you can continue to work, start a new trade or take on other employment.
Changes For New Parents
Recently announced, the Government has said that self-employed parents whose trading profits dipped in 18/19 because they took time out to have children will now be able to claim for a payment under the SEISS.
Parents (including those who adopted) who took time out of trading to care for their children within the first 12 months of the birth or within 12 months of adoption placement, are now able to use either their 17-18 or both their 16-17 and 17-18 self-assessment returns as the basis for their SEISS eligibility.
The other standard eligibility criteria for support under the SEISS are still in place. Further details of the change for self-employed parents is set to be released by the start of July.
Scheme Extension
This scheme has now being extended. Claimants will be able to make a second and final grant claim in August 2020.
HMRC will once again work out your eligibility, the same way as the first grant. You will need to confirm that your business has been adversely affected on or after the 14th July 2020 to make a claim for the second grant.
The second grant will be worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, capped at £6,570.
You can claim for the second grant even if you did not claim for the first grant.
The online service is not available yet.
Who Can Apply
You can apply if you are a self-employed individual or a member of a partnership and:
- you carry on a trade which has been adversely affected by coronavirus
- you traded in the tax year 2018 to 2019 and submitted your Self Assessment tax return on or before 23rd April 2020 for that year
- you traded in the tax year 19/20
- you intend to continue to trade in the tax year 2020 to 2021
Your tax adviser/agent cannot make SEISS claims for you. You must make the claim yourself. If you use an agent you should contact them if you need any help or support.
Check If You’re Eligible To Claim
Use HMRC’s online tool to find out if you are eligible to make a claim.
You will need your Self Assessment Unique Taxpayer Reference (UTR) number and National Insurance number.
If You Are Eligible
HMRC will let you know when you can make a claim from and ask you to add your contact details. HMRC will remind you when the online service becomes available.
If You Are Not Eligible
If you are told that you are not eligible, you can ask HMRC to review this after using the online tool.
